A Group Contribution from the Revionics Consulting Team
If any of us had a crystal ball, we would most likely be enjoying a relaxing life somewhere, as we would have foreseen the recent changes in our economy and been better prepared to weather the storm. But since most of us are not privileged to that mystical tool, let’s talk about a few things we should all have on our immediate radar and be planning for as we look to the coming months.
By: Ken Cline, Application Consultant, Revionics, Inc
I was recently reading Supermarket News, and came across this article that spoke to the state of the state within the grocery vertical. It speaks well to what it takes to succeed in today’s environment.
Food retailers are turning to analytical systems that can help them survive the harsh economy, according to SN’s latest technology survey.
By: Jeff Smith, Founder & EVP Business Development, Revionics, Inc.
In retail, there is a key piece of information that contains a lot of power, that piece of information is the price sensitivity of a given item in a given store. Obtaining that piece of information is a very difficult thing to do. If it weren’t for seasonal effects, holidays, promotions, out of stock conditions, low unit movement and a variety of other challenges, it actually would not be too difficult to determine. After all, it is simply a prediction of how much the unit sales will change given a change in price.
By: Christie Frazier-Coleman, VP Consulting, Revionics, Inc.
Frank Badillo a Senior Economist for Retail Forward in his November 6, 2009 Washington Post article stated:
“Don't expect shoppers to abandon their hard-earned lessons in frugality even if the economy starts picking up. Households remain focused on shopping for needs, and this kind of cautious shopping behavior will restrain sales improvements.”
By: Christie Frazier-Coleman, VP Consulting, Revionics, Inc
In my retail career, I have had the opportunity to implement many types of software. Each and every selection and installation had the intent of assisting the business to improve processes, implement new strategies, and increase efficiencies. Companies today are looking for tools to squeeze extra margins, reduce costs, and help make better decisions. How do the great companies succeed in capturing the changes and efficiencies needed from those investments?